As part of capital market reforms, the Financial Services Commission said it will complete state-run Korea Development Bank’s merger with policy lender Korea Finance Corp within the year.
The Financial Supervisory Service has stepped up its monitoring of Chinese online payment service firm Alipay that will open a new type of offline service in the country.
South Korea’s Financial Services Commission has approved a draft regulation on the supervision of covered bond issuance, specifying the qualifications of underlying assets and setting standards for their evaluation.
The Financial Services Commission plans to improve the corporate financing environment by promoting initial public offerings (IPOs) and invigorating the moribund local capital market.
South Korea’s central bank has joined standard-setting body Islamic Financial Services Board (IFSB).
Korea Exchange Inc. will launch a gold trading platform in an attempt to better regulate a market dominated by illegal transactions.
The Financial Supervisory Service chief vowed to remove regulatory hurdles for foreign financial firms operating in the country.
The Financial Services Commission said fixed-rate and amortising home loans must each account for 40% of banks' residential mortgage holdings by 2017.
The Financial Supervisory Service said it would seek to drastically ease regulatory restrictions on the country's financial sector to boost the industry.
The Financial Services Commission plans to launch a 20-year government bond futures market by 2015 to boost derivatives trading activity.